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Best Guaranteed Universal Life Insurance Companies

best guaranteed universal life insurance companies
Insurance Quotes 2 Day Team

Written By Doug Mitchell

Doug Mitchell, CLU holds a BA degree in Finance from Auburn University, a Chartered Life Underwriter (CLU) designation from The American College in Bryn Mahr, PA and Top of the Table member of the Million Dollar Round Table (MDRT). Doug has spent close to 30 years in the insurance and financial planning industry and has held licenses to sell securities, long-term care insurance, health.  Doug is also a financial blogger addressing the topics of life insurance, annuities and retirement income planning.

Holly Mitchell  &

Holly Mitchell’s background in life insurance insurance goes back to 1985 when she worked for her father who was a New York Life agent. Holly has a marketing degree from Auburn University and has had a life insurance license since 2008. In addition to advising life insurance for customers all around the country, Holly is our website fact checker.

Rob Pinner   &

Rob Pinner is the founder and CEO of Pinner Financial Services servicing all 50 states. Rob started his insurance career in 2002.

Louis LaBash

Results-driven and innovative life insurance professional with 30 plus years of life insurance industry sales and marketing experience. Recognized as a pioneer in the field, leveraging phone and internet channels to exceed personal sales of over $100 million during the first decade of the 21st century. Creator of a highly effective intuitive IUL life insurance sales software that facilitated the sale of millions of dollars of indexed universal policies by numerous life insurance agents. Proven track record as a Managing General Agent (MGA), Life Agent, IUL Life Insurance Sales Software developer, and leading-edge creator of insurance marketing tools, educational content, and delivery systems.

 6 minute read

Guaranteed Universal Life Insurance (GUL) provides certainty in uncertain times. So, who are the best guaranteed universal life insurance companies?

Many people want the assurance that the full face amount of their policy will always be available to their beneficiaries; GUL provides that as long as scheduled premium payments are made. In fact, using guaranteed universal life insurance for seniors is likely more affordable than a whole life product for final expenses.


Not only is GUL perfect for individuals that want to meet their financial obligations, but it’s also ideal for businesses as well. Whether it be for funding a buy-sell agreement or a defined benefit plan or being the key-man policy protecting a small business, or just ensuring that your income is protected, GUL meets the needs of business clients as well as any other insurance product.

Guaranteed Universal Life policies are made available by ten of the top life insurance companies in the United States. Shown below are summaries of their GUL policies.


1. AIG Secure Lifetime GUL 3


AIG has designed the GUL 3 to provide “Certainty in the face of volatile markets and changing needs.” The guaranteed minimum cash value feature means no worrying for the insured that market volatility will strip away cash value; it will always be there and available through full or partial surrenders.

The client’s needs can change over time. The guaranteed return of premium provides flexibility if the client no longer sees the need to keep their coverage. The policy can be surrendered at the end of 20 years, and 50% of the paid premiums will be recouped, or 100% at the end of year 25, capped at 40% of the policy’s lowest specified amount.


2. American National Signature GUL


With signature GUL, the selected guarantee length can be from age 95 to 121, giving peace of mind that the insured won’t outlive the policy. The tax-free death benefit provides income replacement, final expense funding, or money for financial promises made.

Occasionally premium payments are made after the due date by the policy owner. Signature GUL’s late payment forgiveness allows for that. Premiums can be paid up to one full month beyond the monthly deduction date without negatively affecting the lapse date.


3. Banner Life Step UL


Starting with face amounts as low as $50,000, Life Step UL offers a coverage guarantee to maturity at age 121. It was designed for term conversions, as well as new policies. No further underwriting is required with term conversions.

Banner Life has an excellent reputation in the industry as a very financially solid insurance company. They are known for very fair underwriting and considered lenient on type 2 diabetes, epilepsy, and osteoporosis. A family history of cancer is not considered.


4. Lincoln LifeGuarantee© UL


This guaranteed universal life product from Lincoln Financial offers a customizable, guaranteed death benefit period built to last for a lifetime. It’s perfect for wealth transfer, survivor income replacement, key person/buy-sell funding, and group life replacement, and is an excellent term alternative.

LifeGuarantee© has a premium relief feature, offers 1035-exchange forgiveness, and financial protection from long-term care or chronic illness expenses. The return of premium riders provides clients the option to have up to 100% of their premiums returned at various points should their needs change.


5. Mutual of Omaha Guaranteed Universal Life Express



The GUL Express from Mutual of Omaha is a full-featured guaranteed universal life product. Face amounts begin at $25,000. It offers a generous number of riders, including an accelerated death benefit for terminal and chronic illnesses, a guaranteed insurability rider, an accidental death benefit rider, and a disability continuation of planned premium rider.

The guaranteed interest rate on this policy is a very competitive 3%, and guaranteed coverage can be a maximum of lifetime coverage to age 120 or a minimum of age 80, with exceptions for insureds ages 61 and above.

Mutual of Omaha offers simplified underwriting, quick issue process, the ability to “catch up” missed premiums, and a 50% interest rate bonus beginning the 10th policy year. All of these features also make it an ideal solution for guaranteed universal life insurance for seniors.



6. North American Protection Builder IUL


The Protection Builder from North American provides a guaranteed death benefit for the desired length of time, even up to age 120. It’s an excellent policy for individuals to help with retirement planning, annuity maximization, legacy building, and estate planning. For business clients, it works very well for most business life insurance needs, including buy-sell agreements and executive bonus plans.

Key features of the policy include a premium guarantee rider, an interest bonus on fixed and indexed accounts, capped variable interest rate loans, accelerated death benefits, and premium recovery endorsement. The premium recovery endorsement is a return of premium features available in years 15, 20, and 25.


7. Principal Universal Life Protector V


Provided they’re paid on schedule, premium payments will never change with the UL Protector V. Clients will never have to worry about outliving their life insurance coverage with this guaranteed universal life insurance policy.

Principal promotes the policy’s ideal prospects as being individuals ages 55-70, having a need for a death benefit of at least $1 million or higher, and value the certainty guaranteed death benefit protection provides.

UL Protector V is a GUL product that allows for coverage durations from 15 years on up and has a death benefit Option 3, which provides for the return of premium (minus withdrawals). Additionally, it has single-pay and short-pay premium structures without limits and has the availability of Principal Accelerated Underwriting.


8. Protective Advantage Choice UL


This GUL policy from Protective Life is an “affordably priced policy which can provide lifetime protection, flexible features, and potential cash value accumulation.”

Offering financial stability, Protective is rated A+ by A.M. Best. The Advantage Choice UL lives up to its billing with optional endorsements and riders. This includes the accidental death benefit rider, children’s term life insurance rider, and the ExtendCare rider, which advances a portion of the policy’s death benefit if the insured is certified as chronically ill.

Also included is the return of the premium rider, terminal illness/accelerated death benefit rider, and the waiver of the specified premium rider. After the policy has been in force for three years, a decrease in the face amount of the policy may be requested.


9. Prudential PruLife© Universal Protector


Founded in 1845, Prudential is a Fortune 500 company that offers a full line of life insurance products, including the Universal Protector GUL policy. This policy provides for a lifetime death benefit guarantee. It is a flexible premium, permanent life insurance policy with a focus on death benefit protection and no-lapse guarantees.

Riders include the accidental death benefit, BenefitAccess rider, childrens level term rider, enhanced disability benefit, and living needs benefit. Pricing was recently reduced by an average of 3% across most level pay premiums in key ages, which means most clients can get guaranteed lifetime protection for a lower cost than they previously could.


10. Sagicor Sage Indexed Universal Life


The Sage IUL product at Sagicor Life features built-in lapse production. The minimum face amount is $100,000, with preferred loans beginning in policy year eleven and a credited interest rate bonus also starting the same year.


Riders include the accelerated benefit insurance rider for a terminal condition or chronic illness (an inherent rider at no additional charge), an accidental death benefit rider, a children’s term rider, a guaranteed insurability option rider, and a waiver of monthly deductions rider.


How much does Guaranteed Universal Life Cost?


As we have mentioned earlier, the advantage of using Guaranteed Universal Life over a Term Life insurance policy is that a Term policy eventually expires. If you’re concerned about outliving your insurance coverage, a GUL insurance policy is the better solution.

Here are the actual rates for a $100,000 GUL policy for a healthy male and female non-smoker:


Age of ApplicantMale Non-SmokerFemale Non-Smoker

To get accurate quotes for your actual age, please use our instant quote form. 


Guaranteed Universal Life Insurance Pros and Cons


This is typically a short discussion with guaranteed universal life products since we represent so many insurance companies that offer this product. What you might consider a pro or con depends on which company you choose to purchase from. To eliminate the cons while delivering on the pros, our insurance professionals will find the right product from the right company and deliver the best solution for your circumstances and budget.


Now you know our best guaranteed universal life insurance companies for 2023. All of them are well-known for their financial strength and claims-paying abilities. They offer the best in guaranteed universal life insurance; their policies are somewhat underwritten and provide all of the necessary optional riders. Producers and clients alike will benefit from the security these guaranteed no-lapse universal life insurance policies offer, and client retention will be high as a result.


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Frequently Asked Questions

Who has the best Guaranteed Universal Life Insurance?

It is important to look at different companies when purchasing universal life insurance to see which one fits your needs and goals. Some of the carriers that offer guaranteed universal life insurance (GUL) are North American, American, National, Lincoln Financial, and Sagicor. Contact an independent life insurance agent to see what is best for you!

What is Guaranteed Universal Life Insurance?

Guaranteed Universal Life (GUL) provides certainty in uncertain times. Many people want the assurance that the full face amount of their policy will always be available to their beneficiaries; GUL provides that as long as scheduled premium payments are made.

Why would I buy Guaranteed Universal Life Insurance?

Not only is Guaranteed Universal Life (GUL) perfect for individuals that want to meet their financial obligations, but it’s also ideal for businesses as well. Whether it be for funding a buy-sell agreement or a defined benefit plan or being the key-man policy protecting a small business, GUL meets the needs of business clients as well as any other insurance product.


author avatar
Doug Mitchell, CLU Independant Advisor
Doug Mitchell, CLU holds a BA degree in Finance from Auburn University as well as having obtained a Chartered Life Underwriter (CLU) designation from The American College in Bryn Mahr, PA. Doug has spent almost 30 years in the life insurance industry and has also held licenses to sell securities, long-term care insurance and home and auto insurance. Doug is a Top of the Table Million Dollar Round Table member (MDRT).  MDRT is a global, independent association of the world's leading life insurance advisors.  For two years, Doug served as President of the Auburn Opelika Association of Financial Advisors and has been a member of the Million Dollar Round Table. He obtained Life Millionaire status at Horace Mann Insurance Company and was awarded the Life Agent of the Year Award. Later in his career with New York Life he was an Executive Council Member. Doug currently serves as President of Ogletree Financial, a managing general agency serving life insurance agents and clients in all parts of the United States. Today, Doug’s main focus is servicing 1000s of policyholders and growing the agency through the reach of